Forex analysis - 2025-02-24 (00:02)

Forex data GBP/USD
Date : 2025-02-24
Opening : 1.26500
Higher up: 1.26905
Below: 1.26117
Closing : 1.26207

Economic news :
Dollar Weakens Despite Hawkish Fed And Fresh Tariff Warnings
World Markets Trade On A Mixed Note
Wipro Limited (WIT): Among the Best Low Priced Stocks to Invest In Now

Detailed analysis:
### Complete Forex Market Analysis - GBP/USD

**Date:** 2025-02-24
**Opening:** 1.26500
**Higher:** 1.26905
**Lower:** 1.26117
**Closing:** 1.26207

#### Current Trend
The GBP/USD pair showed a slight downward trend during the session of 24 February 2025. After opening at 1.26500, the pair reached an intraday high of 1.26905 before falling back and closing at 1.26207. This trajectory indicates that despite an attempt to move higher, bearish pressure prevailed, probably influenced by external economic factors and wider market dynamics.

#### Impact of Economic News

1. **Dollar Weakens Despite Hawkish Fed And Fresh Tariff Warnings :**
Despite signs of tight monetary policy from the US Federal Reserve (Fed), the dollar weakened. Warnings of new tariffs may have contributed to economic uncertainty, reducing the dollar's appeal as a safe haven. This weakness in the dollar could have limited the fall in GBP/USD, but the continuing uncertainty surrounding the tariffs could also be weighing on market sentiment.

2. **World Markets Trade On A Mixed Note:**
Global markets posted mixed performances, reflecting widespread uncertainty among investors. This uncertainty could influence volatility in the foreign exchange market, thus impacting GBP/USD movements. Investors may be reluctant to take significant positions in an uncertain environment, leading to moderate fluctuations.

3. **Wipro Limited (WIT): Among the Best Low Priced Stocks to Invest In Now :**
Although this news mainly concerns the stock market, it highlights a growing interest in investing in lower-priced equities. This could indicate a shift towards riskier assets, which could indirectly affect capital flows and exchange rates, although the direct impact on GBP/USD is likely to be limited.

#### Short-Term Forecasts

- Bullish scenario:** If the dollar continues to weaken and tariff tensions ease, GBP/USD could see a recovery. A return towards and above the 1.26500 opening level would be a positive sign, with potential resistance around 1.26905.

- Bearish scenario:** If economic uncertainties persist or worsen, bearish pressure could intensify. Immediate support could be tested around the intraday low of 1.26117. A break below this level could pave the way for further declines.

- Neutral scenario:** Against a backdrop of persistent uncertainty, the pair could continue to move sideways, oscillating between the 1.26117 and 1.26905 levels, while awaiting clearer economic catalysts.

In conclusion, the GBP/USD pair is currently being influenced by external economic factors, notably dollar weakness and trade uncertainties. Investors should keep a close eye on economic developments to assess the next directional move.